CFPB Chief Says Progress Expected in 2015 on Debt Collection Rulemaking
Sharon Edmondson, Washington Legislative Team Member | March 06, 2015
Director Richard Cordray said the CFPB will take a major step forward in completing new debt-collection rules in 2015. In November 2013 the bureau said it was considering whether new rules would be necessary under the Fair Debt Collection Practices Act. Now Cordray believes the bureau will be moving forward on rule changes to ensure debt collectors have correct information about debtors and communicate with them fairly, as well as making sure consumers are sufficiently informed about debt-collection practices.